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    China's Internet of Things Market Scale Leaps into "Trillion Level"

    China's Internet of Things Market Scale Leaps into "Trillion Level"

    The Expo is co-sponsored by the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the People's Government of Jiangsu Province. The theme of the Expo is "A New Era of Digital New Economy and IWF". It lasts for four days and is attended by 31 academicians from home and abroad.

    At the opening summit, Miao Wei, Minister of Industry and Information Technology, said that the development of strategic emerging industries such as the Internet of Things has attracted more and more attention from all over the world. In recent years, the industrial Internet has been exploring for the development and application of the Internet of Things. With the rapid growth of industrial scale, the whole new industrial system has been basically covered by mass customization, intelligent manufacturing, remote operation and maintenance.

    Entrusted by the Organizing Committee of the Conference, China Economic Information Agency (CEIS) has issued the Annual Report on the Development of the Internet of Things in China for eight consecutive years in Wuxi. According to the Annual Report on the Development of China's Internet of Things 2017-2018 released this year, China's Internet of Things market has entered a substantial stage of development since 2017. The annual market scale has exceeded 1 trillion yuan and the annual compound growth rate has exceeded 25%. The Internet of Things cloud platform has become the core area of competition. It is expected that China's Internet of Things platform expenditure will rank first in the world in 2021.

    From the perspective of subdividing industries, the Internet of Things has been gradually verified on a large scale in the fields of transportation, logistics, environmental protection, medical treatment, security, power and so on. The sub-market of "Internet of Things + Industry Applications" has begun to differentiate. Wisdom City, Industrial Internet of Things, Vehicle Networking and Smart Home have become the four main sub-markets. Iterative evolution of new technologies related to the Internet of Things, such as chips, intelligent recognition, sensors, block chains, edge computing, accelerates the development of Internet of Things application products to the direction of intelligence, convenience, low power consumption and miniaturization.

    It is understood that the exhibition has a scale of 50,000 square meters, mainly including Internet of Things communication and platform support enterprises, intelligent manufacturing and sensors, intelligent life, intelligent transportation and vehicle networking, smart city five theme pavilions, and Internet of Things typical application case interactive experience exhibition. 526 units from nearly 20 countries and regions participated in the exhibition, including 35 of the world's top 500 companies.

    As the only national sensor network innovation demonstration area in China, Wuxi is continuing to strengthen the pilot demonstration of application, and has built up more than 20 national brands related to the Internet of Things. By the end of 2017, Wuxi Internet of Things has a business income of 243.7 billion yuan, has more than 2,000 Internet of Things enterprises and more than 2,500 patent applications for inventions. It has undertaken more than 700 projects in more than 60 countries around the world, including 21 major demonstration projects at the national level, and has taken the lead in formulating the international standard "Internet of Things Reference Framework".

    Changzhou Lingfeng Electronics Co., Ltd. The company adopts modern management, continuous innovation and continuous improvement of business philosophy
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